A study by Bankrate.com revealed that savings do not fluctuate with income. People typically spend what they make. This is due to impulse purchases.
Typical impulse purchases include lottery tickets, clothing, apps, larger food sizes, and games of chance. These purchases are usually not needed and they are instantly regretted.
Cutting down on some of these impulse purchases should increase your savings by a decent margin.
Image by Magnus D via Wikimedia Commons.
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